Scotiabank has decided to up their game and offer a 10% cash back promotion with its Scotia Momentum Visa Infinite Card. Let’s see what this 10% really entails.
For now, let’s list the highlights of this credit card:
- $99 annual fee (first year fee waived if you apply before February 28, 2019)
- $30 annual fee for a supplementary cardholder
- Earn 10% cash back on first $2,000 in spending or within the first 3 months (whichever is completed first) (if you apply before February 28, 2019)
- Earn 4% cash back for every $1 spent on gas and grocery purchases
- Earn 2% cash back for every $1 spent on drug store purchases and recurring bill payments
- Earn 1% cash back for every $1 spent on all other purchases
- Have at least $60,000 in personal annual income, $100,000 in annual household income or $250,000 in assets under management
This is actually an amazing promotion, considering that the first year fee is also waived. Granted, you are only getting $200 cash back bonus on $2,000 ($2,000 x 10% = $200), this is still an amazing offer.
Not to mention that the regular earning ratios are also very competitive, with the 4% and 2% multiplier bonuses on very useful categories.
If you do not have this card already, now is as good a time as any to sign up for this card.
Thumbs up to Scotiabank for offering such a competitive promotion!